Home prices in Delhi and Mumbai
The real estate prices around cities like Delhi and Mumbai have no signs of witnessing downtrend.
With the announcement of Union Budget 2012 showing higher rates of service tax and excise duties, dream home concept will get more costlier.
A latest real estate report from CRISIL states that the home prices in Mumbai which are newly built are showing signs of declining in 2012.
There was 40 percent dip in home sales during the year 2011 whereas a sharp rise was witnessed construction and funding costs.
Also, in addition to amendments made in Development Control Regulations (DCR), will increase costs for the builders which intern will prevent a reduction in home prices.
However, CRISIL’s recent research is expecting 7 to 9 per cent increase in costs of key realty inputs for the year 2012
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Source: Economic Times
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